Social Media ROI

The ROI of Social Media
By Connie Bensen
Director of Social Media & Community Strategy
BlogWorld Expo
October 15, 2010

Invest in Community
In-depth explanation of diagrams:http://conniebensen.com/2010/10/14/community-strategist-role/

A Holistic & Cross-Functional Approach

Seven Returns on Investing in Community
Reduced spend on PR, marketing & advertising via WOM
Higher Conversion Rates – warm leads
Lower Acquisition Costs – reduce cold calls
Shorter Sales Cycle
Reduced Customer Service Costs
Reduced Product Development Costs (time & resources)
Increased Sales by Creating Products based on Consumer Demand

Calculating ROI
Decide on the objective (it needs to be measurable).
What is the % increase or decrease change in behavior that is wanted. (Need to know the value of increment)
Measure the baseline.
After a given period (or campaign time) take the measurement
Calculate the ROI based on the cost

Resources
8 Whitepapers on Social Media ROI at:
Alterian.com
slideshare.net/conniebensen
Best Practices at www.CommunityStrategist.com
Email: ConnieBensen@gmail.com
Twitter: @cbensen
Slideshare: slideshare.net/conniebensen

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Social Media ROI

by Connie Bensen on Oct 16, 2010

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Social Media ROI — Presentation Transcript